ORG Wealth Partners LLC Takes $112,000 Position in Western Digital Co. (NASDAQ:WDC)

ORG Wealth Partners LLC purchased a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,642 shares of the data storage provider’s stock, valued at approximately $112,000.

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC lifted its stake in shares of Western Digital by 8.6% in the third quarter. Sound Income Strategies LLC now owns 67,018 shares of the data storage provider’s stock worth $4,577,000 after acquiring an additional 5,296 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Western Digital by 4,487.8% in the third quarter. Exchange Traded Concepts LLC now owns 3,395 shares of the data storage provider’s stock worth $232,000 after acquiring an additional 3,321 shares during the period. Inspire Investing LLC lifted its stake in shares of Western Digital by 20.4% in the third quarter. Inspire Investing LLC now owns 4,147 shares of the data storage provider’s stock worth $283,000 after acquiring an additional 704 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Western Digital by 464.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,160 shares of the data storage provider’s stock worth $216,000 after acquiring an additional 2,600 shares during the period. Finally, Tobam lifted its stake in Western Digital by 48.8% in the third quarter. Tobam now owns 1,780 shares of the data storage provider’s stock valued at $122,000 after buying an additional 584 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WDC. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Evercore ISI restated an “outperform” rating and issued a $85.00 price objective on shares of Western Digital in a research note on Thursday, August 15th. Susquehanna dropped their price target on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price objective on shares of Western Digital in a report on Tuesday, September 10th. Finally, Wedbush increased their price objective on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.24.

Insiders Place Their Bets

In other news, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total value of $5,274,000.00. Following the completion of the transaction, the chief executive officer now owns 896,630 shares in the company, valued at $63,051,021.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $70.32, for a total value of $5,274,000.00. Following the completion of the transaction, the chief executive officer now directly owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,955 shares of company stock valued at $6,327,560. 0.28% of the stock is currently owned by corporate insiders.

Western Digital Trading Up 3.0 %

WDC opened at $66.83 on Tuesday. The stock has a market cap of $21.82 billion, a PE ratio of -13.45 and a beta of 1.39. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $64.16 and a 200-day moving average of $69.91. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Equities research analysts predict that Western Digital Co. will post 7.75 earnings per share for the current fiscal year.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.